PR Bilal Azhar Kayani Holds Extensive Consultative Meeting with Senior Philip Morris International Delegation
Islamabad – May 6, 2026:
Minister of State for Finance and Revenue Bilal Azhar Kayani chaired an in-depth consultative meeting with a senior delegation from Philip Morris International to deliberate on a wide range of fiscal, regulatory, and investment-related matters concerning Pakistan’s evolving economic landscape.
The meeting served as a platform for constructive engagement between the government and a leading multinational corporation, focusing on strengthening cooperation and ensuring alignment with national economic priorities. Discussions covered taxation policies, regulatory frameworks, enforcement mechanisms, and measures aimed at improving compliance within the tobacco sector.
Minister Kayani underscored the government’s firm commitment to maintaining a transparent, fair, and predictable taxation system. He highlighted that broadening the tax base, curbing illicit trade, and enhancing documentation of the economy remain key priorities. He further stressed that consistent policy implementation and effective enforcement are essential to ensuring a level playing field for all industry stakeholders.
The minister also outlined ongoing economic reforms aimed at stabilising the macroeconomic environment, attracting foreign direct investment, and promoting sustainable growth. He noted that efforts are underway to improve the ease of doing business through procedural simplification, digitisation of tax administration, and strengthening of institutional capacity.
During the meeting, the delegation from Philip Morris International shared its perspective on industry challenges, including the impact of illicit trade and regulatory inconsistencies on legitimate businesses. The delegation emphasised the importance of a stable and predictable policy environment to encourage long-term investment and innovation, while also highlighting global best practices in compliance and operational efficiency.
Both sides engaged in a detailed exchange on strategies to address illicit cigarette trade, which continues to affect revenue collection and market balance. The discussion included the need for stronger enforcement measures, improved coordination among regulatory authorities, and the adoption of modern tracking and tracing systems to ensure compliance.
Minister Kayani acknowledged the concerns raised and reiterated the government’s resolve to tackle illegal trade through stricter enforcement and oversight. He emphasised that all companies operating in Pakistan must fully comply with national laws and contribute fairly to the economy.
The meeting also explored opportunities for enhanced collaboration between the government and multinational companies in promoting responsible business practices and supporting broader economic development initiatives. Both sides agreed on the importance of sustained dialogue to address emerging challenges and maintain policy clarity.
The delegation appreciated the government’s proactive engagement and expressed confidence in Pakistan’s economic direction. They reaffirmed their commitment to continuing operations in the country in full compliance with applicable regulations while contributing to national growth.
Concluding the session, Minister Kayani reiterated that the government values ongoing engagement with industry stakeholders and remains committed to fostering a business-friendly environment that balances investment facilitation with strong regulatory enforcement.
Both parties agreed to continue regular consultations to strengthen cooperation, address sector-specific concerns, and explore new avenues for sustainable and mutually beneficial engagement.